Past Bank Conference Events
Mike Godby
Janney Montgomery Scott LLC
Mike has more than 29 years of financial services experience, with deep expertise in mutual-to-stock conversions.
Sundie Seefried
Safe Harbor Financial
A 39-year credit union industry veteran, Seefried was the former CEO of Partner Colorado Credit Union (PCCU). Established in 2015 by PCCU, Safe Harbor was formed to provide an unmet need – compliant banking and financial services to the rapidly growing U.S. cannabis industry. Seefried designed a full-scope Cannabis Banking Program for PCCU known as the Safe Harbor program, which has withstood the scrutiny of 16 federal and state exams to date.
Now in its 8th year, Safe Harbor has grown to nearly 600 accounts spanning 20 states, and processed over $12 billion in cannabis-related transactions. Presentation
Now in its 8th year, Safe Harbor has grown to nearly 600 accounts spanning 20 states, and processed over $12 billion in cannabis-related transactions. Presentation
Presenting Banks Presentations & At-a-Glance Stats
SR Bancorp, Inc. - SRBK
Simone Lagomarsino
President and Chief Executive Officer of Luther Burbank Corporation and Luther Burbank Savings
Prior to joining the Company, Ms. Lagomarsino served as President and CEO of the Western Bankers Association and as a director of Pacific Premier Bancorp (NASDAQ: PPBI). From 2011 to 2017, she served as CEO of Heritage Oaks Bank and as President and CEO of Heritage Oaks Bancorp. Previous to that, she held executive positions with City National Bank, Hawthorne Savings, Kinecta Federal Credit Union, Ventura County National Bank and Warner Center Bank.
Ms. Lagomarsino is regularly honored in financial services industry organizations and publications and in 2013 was named by American Banker as Community Banker of the Year. In addition to her role at the Company, she has served as Chair of the Board of Directors of the Federal Home Loan Bank of San Francisco since 2022 and as a director since 2013. She has served on the board of directors of the Federal Reserve Bank of San Francisco since 2022 and was re-elected in 2022 to a three-year term. She served as a director of Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE: HASI) from 2019 to 2022.
Ms. Lagomarsino holds an M.B.A in Finance from Claremont Graduate University and a B.A. in Economics from Claremont McKenna College.
Ms. Lagomarsino will talk about the following topics:
Recent events in the banking industry, and her thoughts regarding possible changes in banking regulation, and her projections regarding interest rates, the California Economy including real estate, population growth, and bank M&A Bank and leadership.
Recent events in the banking industry, and her thoughts regarding possible changes in banking regulation, and her projections regarding interest rates, the California Economy including real estate, population growth, and bank M&A Bank and leadership.
Mike Scarpa
Managing Director - U.S. Financial Services, Cyber Risk & Regulation, Price Waterhouse Coopers
Mike works as a Managing Director within the Cyber, Risk, Regulatory, and Financial Crimes team at PwC. Prior to joining PwC, Mike was a Managing Director in another Big Four’s Financial Services Regulatory Compliance and Risk practice, leading the Banking Safety and Soundness sub-practice and the Digital Assets practice. During his tenure, Mike was instrumental in delivering regulatory compliance and risk management engagements to traditional and challenger financial institutions and fintech firms. Mike also has extensive experience with financial institution licensure, product registration, risk and control design, capital adequacy, recovery, wind-down/resolution planning for non-banking financial technology firms, enterprise risk, state and federal banking regulations, third-party/vendor risk, recordkeeping and regulatory reporting, Board/Management Reporting and three lines of defense expectations.
Mike was regulatory counsel at an institutional broker-dealer and directly supported a former OCC Large Bank Principal Examiner with regard to Asset Liability Management, Liquidity Risk Management/ Contingency Funding planning, Concentration Risk Management, and a myriad of other safety and soundness areas prior to joining his previous Big Four firm.
Mike Scarpa will address the following topics:Interest Rate Risk/Asset Liability Management, Liquidity Risk Management, Contingency Funding Planning, FDIC assessment basics, and potential areas of risk management and regulatory compliance that may change in light of what’s happened.
Mike Scarpa will address the following topics:Interest Rate Risk/Asset Liability Management, Liquidity Risk Management, Contingency Funding Planning, FDIC assessment basics, and potential areas of risk management and regulatory compliance that may change in light of what’s happened.
Bank Presenters:
American Riviera Bancorp (ARBV)
Jeff DeVine, CEOMichelle Martinich, CFO
Summit State Bank (SSBI) Brian Reed, CEOCamille Kazarian, CFO
Bank of San Francisco (BSFO) Ed Obuchowski, CEO & FounderWendy Ross, President & FounderJennifer Corr, CFOFelix Miranda, Commercial Banking Manager
Avidbank Holdings, Inc. (AVBH) Mark Mordell, CEO
Endeavor Bancorp (EDVR) Dan Yates, CEO Steven Sefton, President
Summit State Bank (SSBI) Brian Reed, CEOCamille Kazarian, CFO
Bank of San Francisco (BSFO) Ed Obuchowski, CEO & FounderWendy Ross, President & FounderJennifer Corr, CFOFelix Miranda, Commercial Banking Manager
Avidbank Holdings, Inc. (AVBH) Mark Mordell, CEO
Endeavor Bancorp (EDVR) Dan Yates, CEO Steven Sefton, President
Credit Unions And M&A Tuesday, December 6, 2022
Derek Szot - Piper Sandler
Derek Szot is a managing director in the financial services group at Piper Sandler, and its predecessor Sandler O’Neill.
He provides strategic advice primarily to depository financial institutions throughout United States.Derek has significant experience working with credit unions and mutual savings banks. This includes capital planning within the credit union and mutual structures, the conversion process where merited (including both credit union to mutual and mutual to stock company), and post-conversion capital management
He provides strategic advice primarily to depository financial institutions throughout United States.Derek has significant experience working with credit unions and mutual savings banks. This includes capital planning within the credit union and mutual structures, the conversion process where merited (including both credit union to mutual and mutual to stock company), and post-conversion capital management
strategies.
In addition, Derek has an extensive background in mergers and acquisitions with particular expertise in financial modeling and helping clients assess the impact of various strategic alternatives to their base operations.
Before re-joining Sandler O’Neill in 2004, Szot was co-founder and principal of Y-Merge, which was acquired by SNL Financial (S&P Global). He originally joined Sandler O’Neill in 1993.Szot is a graduate of both the Wharton School of the University of Pennsylvania and Columbia University.
Before re-joining Sandler O’Neill in 2004, Szot was co-founder and principal of Y-Merge, which was acquired by SNL Financial (S&P Global). He originally joined Sandler O’Neill in 1993.Szot is a graduate of both the Wharton School of the University of Pennsylvania and Columbia University.
Derek Szot from Piper Sandler addressed the following topics:• The history of CU-bank deals• Drivers of CU acquisitions• Deal metrics• Deals that did not go through and why?• Any predictability-what to look for in bank targets?• Are credit union to mutual bank conversions dead?• What is the Liquidation Account for converted mutual targets all about?• Regulatory environment for CU-bank deals
Mike Godby
Janney Montgomery Scott LLC
Mike has more than 29 years of financial services experience, with deep expertise in mutual-to-stock conversions.
Topic: The current mutual bank conversion landscape
Reid Brewer
Piper Sandler
Reid provides strategic general industry and economic advisory, M&A transaction advisory and capital raising services to depository institutional clients in the Southeast.
Topic: Mergers & acquisitions in an age of securities markdowns
Topic: Mergers & acquisitions in an age of securities markdowns
Bank Presenters:
Avidbank Holdings, Inc. (AVBH) - At-A-Glance SummaryBankwell Financial (BWFG) - At-A-Glance SummaryFirst Bancshares (FBMS) - At-A-Glance SummaryFlushing Financial (FFIC) - At-A-Glance SummaryLCNB National Bank (LCNB) - At-A-Glance SummaryLiberty Northwest (LBNW) - At-A-Glance SummaryMagyar Bancorp, Inc. (MGYR) - At-A-Glance SummaryPB Bankshares (PBBK) - At-A-Glance SummaryPonce Financial (PDLB) - At-A-Glance SummaryWhite River Bancshares (WRIV) - At-A-Glance Summary
September 2022 Bank Presentations
FBMS
The First Bancshares, Inc.
FFIC
Flushing Financial Corporation
LCNB
LCNB Corporation
MGYR
Magyar Bancorp, Inc.
WRIV
White River Bancshares Co.
PBBK
PB Bankshares, Inc.
PDLB
Ponce Financial Group, Inc.
LBNW
Liberty Northwest Bancorp, Inc.
AVBH
Avidbank Holdings, Inc.
Presenting Banks Overview
Avidbank Holdings, Inc. (AVBH) is a niche-focused west coast bank trading close to tangible book that recently raised capital from several big bank investors with one of them recently joining the Board of Directors.
Bankwell Financial Group, Inc. (BWFG) is a high-performance bank with a valuable deposit franchise in Fairfield County, CT, and a strong board of directors trading at 1.12x tangible book.
The First Bancshares, Inc. (FBMS) acquired Heritage Southeast Bancorporation (HSBI) after HSBI terminated its sale to a credit union; an opportunity for HSBI shareholders to get to know FBMS better.
Flushing Financial (FFIC) is a $6.4B metro-NY deposit franchise trading around TBV with interesting growth initiatives in Fintech and local niche markets.
LCNB Corp. (LCNB) is one of the strongest deposit franchises in one of the strongest midwest markets with one of the strongest dividend yields. Liberty Northwest Bancorp, Inc. (LBNW) is a de novo bank with a strong deposit base in the attractive Seattle MSA market that just listed its stock on the OTCQX market.
Magyar Bancorp, Inc. (MGYR) is a recent thrift conversion selling at a discount to tangible book just past its 1-year anniversary with a special dividend, regular dividend, and a 5% share repurchase authorization already under its belt.
PB Bankshares (PBBK) is a recent thrift conversion selling well-below TBV that just passed its one-year anniversary with a 10% buyback authorization. Ponce Financial Group, Inc. (PDLB) - recent 2nd step conversion trading below offer price and below tang book even adjusted for fintech exposure with excess capital and a track record of accretive capital management. White River Bancshares Co (WRIV) is a growth bank with strong deposits in attractive northern AR market trading at 1x tangible book, an opportunity to get an update on recent investments and growth opportunities in an "under the radar" part of the country.
Bankwell Financial Group, Inc. (BWFG) is a high-performance bank with a valuable deposit franchise in Fairfield County, CT, and a strong board of directors trading at 1.12x tangible book.
The First Bancshares, Inc. (FBMS) acquired Heritage Southeast Bancorporation (HSBI) after HSBI terminated its sale to a credit union; an opportunity for HSBI shareholders to get to know FBMS better.
Flushing Financial (FFIC) is a $6.4B metro-NY deposit franchise trading around TBV with interesting growth initiatives in Fintech and local niche markets.
LCNB Corp. (LCNB) is one of the strongest deposit franchises in one of the strongest midwest markets with one of the strongest dividend yields. Liberty Northwest Bancorp, Inc. (LBNW) is a de novo bank with a strong deposit base in the attractive Seattle MSA market that just listed its stock on the OTCQX market.
Magyar Bancorp, Inc. (MGYR) is a recent thrift conversion selling at a discount to tangible book just past its 1-year anniversary with a special dividend, regular dividend, and a 5% share repurchase authorization already under its belt.
PB Bankshares (PBBK) is a recent thrift conversion selling well-below TBV that just passed its one-year anniversary with a 10% buyback authorization. Ponce Financial Group, Inc. (PDLB) - recent 2nd step conversion trading below offer price and below tang book even adjusted for fintech exposure with excess capital and a track record of accretive capital management. White River Bancshares Co (WRIV) is a growth bank with strong deposits in attractive northern AR market trading at 1x tangible book, an opportunity to get an update on recent investments and growth opportunities in an "under the radar" part of the country.
June 8, 2021 - Under the Radar
Keynote Speakers:
Mike GodbyJanney Montgomery Scott LLC
Mike has more than 29 years of financial services experience, with deep expertise in mutual-to-stock conversions.
Joey WarmenhovenJWTT, Inc.
Joey runs one of the most active small to micro-cap bank market-making desks in the country.
NASDAQCM: PVBC
NASDAQGS: RVSB
NASDAQCM: SAL
OTCPK: SVVB
OTCQX: WRIV
NASDAQCM: WMPN